OTP Bank looks to expand in Russia

Pharma

OTP Bank is looking to expand in Russia, chairman of the lender's Russian unit Zoltán Illés said in an interview published in business daily Kommersant on Monday. " We now have about 160 branches, but we would like to invest more in the development of the network," Illés told the paper. Asked whether an expansion could involve acquisitions as well as organic growth, Illes said everything would depend on price. He suggested the main focus of the Russian unit is profitability, rather than market share.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Industry